2024-11-14T14:02:37-06:00 2023-12-31 911194016 CLARK NUBER PS 10900 NE 4TH STREET SUITE 1400 BELLEVUE WA 98004 990PF 2023-01-01 954664939 THE BROAD ART FOUNDATION BROA 3109545026 300 SOUTH GRAND AVENUE 1800 LOS ANGELES CA 90071 JULIE BAKER TRUSTEE 3109545026 2024-11-13 1 0 JENNIFER BECKER HARRIS P00183358 4254544919 2024-11-13 2023 2024-10-15 13:58:12Z X 1846836590 X 25145300 3535 3535 3535 1943257 3202905 1943257 3997689 5259571 266161 0 16474 -5152 41 31106255 3467449 1946833 80000 0 0 80000 34193 0 0 34193 18569 0 0 19814 8396 0 0 0 84918 42459 42459 37459 698964 160286 160286 535473 181335 1883 0 65200 14975 0 0 16449 802398 200600 371 812311 1923748 405228 203116 1600899 82083 12082083 2005831 405228 203116 13682982 29100424 3062221 1743717 84423 58943 58943 56565045 30497885 30497885 151698 293140 151698 151698 5200000 5311937 5311937 9455997 12112065 12112065 47047101 72093881 72093881 593003488 616972643 1726610181 711649194 737199052 1846836590 92145 70364 12000000 93568 209703 12185713 280067 X 699463481 736918985 699463481 736918985 711649194 737199052 699463481 29100424 8355080 736918985 0 736918985 PASS THROUGH INVESTMENTS P 4591349 4667782 -76433 -76433 ALTERNATIVE INVESTMENTS (LONG TERM) P 668222 668222 0 0 CAPITAL GAIN DISTRIBUTIONS P 208716 208716 208716 PASS THRU INVESTMENTS DISTRIB IN EXCESS OF BASIS P 133878 133878 133878 266161 0 42565 0 42565 0 42565 97537 0 0 0 97537 X 0 54972 54972 0 0 0 0 0 0 0 0 0 0 0 1 1 CA 1 1 0 0 0 1 N/A JULIE BAKER FOFS 3109545026 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 EDYTHE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 0 0 0 JOANNE HEYLER 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 20.00 320000 20480 0 GERUN RILEY 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 0 0 0 JULIE BAKER 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 0 0 0 PETER ADAMSON 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 0 0 0 NONE 0 THE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 PROGRAM-RELATED SERVICES 450000 FAMILY OFFICE INVESTMENT SERVICES LLC 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 INVESTMENT MGT 148204 FAMILY OFFICE FINANCIAL SERVICES 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 ACCTG, TAX, TECHNOLOGY & HR 85473 ERNST & YOUNG LLP 200 PLAZA DRIVE SECAUCUS NJ 07094 ACCOUNTING AND FINANCE 55426 0 ART ACQUISITION FOR LOAN PROGRAM 26825000 ART EXHIBITION, STUDY, AND LOAN PROGRAM (SEE ATTACHED DESCRIPTION OF ACTIVITIES) 1600899 0 10907820 37652145 57002690 105562655 0 0 105562655 1583440 103979215 5198961 X 13682982 0 26825000 40507982 1998-04-30 X 1743717 782791 49500 463320 3039328 1482159 665372 42075 393822 2583429 40507982 58119555 18470353 17277216 134375106 12082083 12180000 12087500 12167500 48517083 28425899 45939555 6382853 5109716 85858023 0 0 3465974 4423457 2995195 2245221 13129847 0 0 0 0 EDYTHE BROAD X AMERICAN FRIENDS OF FONDATION BEYELER 423 W 14ST SUITE 429-2F NEW YORK NY 10014 PC GENERAL SUPPORT 10000 ART PRACTICE 3401 W 43RD PLACE LOS ANGELES CA 90008 POF GENERAL SUPPORT 10000 FOUNDATION FOR CONTEMPORARY ARTS 820 GREENWICH STREET NEW YORK NY 10014 PC GENERAL SUPPORT 10000 MUSEUM OF CONTEMPORARY ART 250 S GRAND AVE LOS ANGELES CA 90012 PC GENERAL SUPPORT 47083 THE BROAD 221 S GRAND AVENUE LOS ANGELES CA 90012 POF OPERATING SUPPORT 12000000 UCLA FOUNDATION 10920 WILSHIRE BLVD SUITE 900 LOS ANGELES CA 90024 PC EXHIBITION SUPPORT 5000 12082083 0 14 3535 14 1943257 15 41 18 3997689 UBIT FEDERAL REFUND 01 16433 0 5960955 0 5960955 11A UBIT FEDERAL REFUND 0 0 0 0 0 0 0 0 0 0 X X 1 THE ELI AND EDYTHE BROAD FOUNDATION 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 25000000 X 2 ELLSWORTH KELLY FOUNDATION PO BOX 220 SPENCERTOWN NY 12165 145300 X X 2 ART 145300 2023-09-07 ACCOUNTING FEES 84918 42459 42459 37459 THE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 2022-12-31 12000000 OPERATING SUPPORT 12000000 TO OUR KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED 06/27/23 (FINAL) THE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 2023-12-31 12000000 OPERATING SUPPORT 12000000 TO OUR KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED 07/02/24 ART PRACTICE 3401 W 43RD PLACE LOS ANGELES CA 90008 2023-12-31 10000 GENERAL SUPPORT 10000 TO OUR KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED 08/13/24 SUMMARY OF DIRECT CHARITABLE ACTIVITIES FORM 990-PF, PART IX-A THE BROAD ART FOUNDATION IS A PRIVATE OPERATING FOUNDATION CREATED IN 1984 (ON JULY 1, 1999, BASED ON AN IRS RULING RECEIVED 4/30/98, ALL THE ASSETS OF THE ELI BROAD FAMILY FOUNDATION WERE TRANSFERRED TO A NEWLY FORMED TRUST, THE BROAD ART FOUNDATION). THE PURPOSE OF THE FOUNDATION IS TO BUILD A COLLECTION OF CONTEMPORARY ART FOR LOAN TO MUSEUMS AND UNIVERSITY AND COLLEGE ART GALLERIES. NOW IN ITS THIRTY-NINTH YEAR OF ACTIVITY, THE FOUNDATION IS AN EDUCATIONAL AND LENDING RESOURCE PROMOTING KNOWLEDGE AND APPRECIATION OF THE BEST OF CONTEMPORARY ART AND FACILITATING THE EXHIBITION PROGRAMMING OF EXISTING ART INSTITUTIONS.THE COLLECTIONTHROUGH THE SELECTIVE ACQUISITION OF KEY WORKS OF CONTEMPORARY ART, THE FOUNDATION CONTINUES ITS ONGOING COMMITMENT TO THE GROWTH OF ITS COLLECTION. TARGETING LATE 20TH AND EARLY 21ST CENTURY ARTISTIC DEVELOPMENTS, THE FOUNDATION STRIVES TO COLLECT WORKS OF UNPARALLELED IMPORTANCE IN THE RECENT HISTORY OF AMERICAN ART. DURING 2023, THE FOUNDATION BROADENED ITS HOLDINGS OF SEVERAL KEY ARTISTS, INCLUDING MARK BRADFORD, PATRICK MARTINEZ, MARTIN PURYEAR, ED RUSCHA, AMY SHERALD, CINDY SHERMAN AND KEHINDE WILEY. THE NUMBER OF WORKS IN THE COLLECTION TOTALS 1,523.PUBLIC ACCESSIBILITYTHE FOUNDATION MOVED FROM ITS ORIGINAL OFFICE AND EXHIBITION SPACE, WHICH IT HAD OCCUPIED SINCE 1988, INTO ITS NEW HEADQUARTERS AT THE BROAD MUSEUM IN DOWNTOWN LOS ANGELES ON MAY 15, 2015. IN ITS ORIGINAL SPACE, THE FOUNDATION HAD LIMITED ABILITY TO MAKE ITS ARTWORKS AVAILABLE FOR VIEW EITHER TO THE PUBLIC OR TO ART PROFESSIONALS. THE SPACE WAS NOT LARGE ENOUGH TO HOLD ALL THE WORKS IN THE COLLECTION, SO MOST WERE STORED IN CRATES OFF SITE. THIS MEANT THAT MUSEUM PERSONNEL WISHING TO BORROW OR SCHOLARS WISHING TO STUDY WORKS OF ART EITHER HAD TO WORK FROM PHOTOGRAPHS OR THAT FOUNDATION STAFF HAD TO GO TO A STORAGE FACILITY, UNCRATE THE ARTWORK AND BRING THE ART PROFESSIONAL TO SEE IT, SOMETHING THAT WAS INEFFICIENT AND NOT OPTIMAL FOR THE PRESERVATION OF THE ART. FURTHER, THE ORIGINAL BUILDING WAS A PRIVATE FACILITY OPEN ONLY BY APPOINTMENT. WITH ITS MOVE TO THE BROAD, THE FOUNDATION IMMEDIATELY AND SIGNIFICANTLY INCREASED THE ACCESSIBILITY OF THE COLLECTION. THE GALLERIES OF THE BROAD MUSEUM DISPLAY A LARGE NUMBER OF LOANS FROM THE BROAD ART FOUNDATION, ALLOWING BOTH THE PUBLIC AND ART PROFESSIONALS TO SEE THE WORKS FIRSTHAND, IN SITU. IN ADDITION, THE BROAD WAS DELIBERATELY DESIGNED WITH STATE-OF-THE-ART, ON-SITE STORAGE FACILITIES THAT ALLOW CONSOLIDATION OF THE COLLECTION UNDER ONE ROOF AND PERMIT ART PROFESSIONALS EASILY AND EFFICIENTLY TO VIEW THE ORIGINAL WORKS. THE GREATLY ENHANCED ACCESSIBILITY SERVES TO ENCOURAGE THE STUDY AND LENDING OF WORKS FROM THE BROAD ART FOUNDATION COLLECTION TO OTHER PUBLIC INSTITUTIONS. LOAN ACTIVITYTHE CENTERPIECE OF THE FOUNDATION'S ACTIVITIES IS ITS LENDING PROGRAM. IN 2023, IN ADDITION TO THE BROAD, 14 PUBLIC VENUES AVAILED THEMSELVES OF 111 FOUNDATION LOANS. AMONG THE MAJOR MUSEUMS AND ARTS INSTITUTIONS BORROWING FROM THE FOUNDATION WERE: MUSEUM OF MODERN ART, BALTIMORE MUSEUM OF ART, ASIAN ART MUSEUM OF SAN FRANCISCO, ST. LOUIS ART MUSEUM AND MUSEE D'ART MODERN GRAND-DUC JEAN (MUDAM). FORM 990PF, PART VII-B, LINE 1A(3) STATEMENTS REGARDING ACTIVITIES FOR WHICH FORM 4720 MAY BE REQUIREDPART VII-B, LINE 1A(3)THERE ARE DISQUALIFIED PERSONS WHO FURNISH THE FOUNDATION WITH IN-KIND SERVICES IN ORDER TO GOVERN THE FOUNDATION'S CHARITABLE ACTIVITIES. THE SERVICES ARE PROVIDED FREE OF CHARGE. THESE ACTIVITIES ARE NOT AN ACT OF SELF-DEALING AS CODIFIED IN IRC SECTION 4941(D)(2)(C). FORM 990PF, PART VII, LINE 1 AND 3 PER THE FORM INSTRUCTIONS, AN ALLOCATION OF A TRUSTEE SALARY HAS BEEN DISCLOSED ON PART VII, LINE 1 WHICH IS PAID BY THE FOUNDATION TO THE BROAD THROUGH A SERVICES AGREEMENT EFFECTIVE APRIL 1, 2023. THE COMPENSATION IS FOR SERVICES THE TRUSTEE PROVIDES TO THE FOUNDATION SEPARATE FROM THEIR DUTIES AS A TRUSTEE. NO ADJUSTMENTS HAVE BEEN MADE TO THE AMOUNTS ON PART I LINE 13 OR PART VII LINE 3. STREETTRACKS GOLD TRUST 2076871 2076871 SANDS GLOBAL GROWTH 10035194 10035194 INTERNATIONAL FIXED INCOME FMV 25118324 25118324 DISTRESSED - PRIVATE EQUITY FMV 8082361 8082361 REAL ESTATE AND HARD ASSETS FMV 1167814 1167814 SECONDARIES FMV 1342543 1342543 DOMESTIC EQUITY FMV 36382839 36382839 LEGAL FEES 8396 0 0 0 FINE ARTS COLLECTION AND ART LIBRARY 590003488 616972643 1726610181 UNSETTLED TRADE 3000000 0 0 ART STORAGE 443760 0 0 447174 PAYROLL SERVICE 2510 0 0 2510 SHIPPING 88259 0 0 97539 INSURANCE 248213 0 0 251286 BANK FEES 371 371 371 9230 PASS THROUGH OTHER INVESTMENT EXPENSES 0 200229 0 0 POSTAGE & DELIVERY 656 0 0 681 SUPPLIES 481 0 0 481 APPRAISAL 865 0 0 865 ART CONSERVATION & CARE 1750 0 0 1750 MEMBERSHIP DUES & PROFESSIONAL LICENSES 795 0 0 795 FRAMING 14738 0 0 0 PASS THROUGH OTHER INV INC. 0 -5193 0 ROYALTIES 41 41 41 UBIT FEDERAL REFUND 16433 0 0 UNREALIZED GAIN/LOSS 8355080 DEFERRED TAX LIABILITY 93568 209703 INVESTMENT MANAGEMENT FEES 160286 160286 160286 0 PROFESSIONAL SERVICE FEES 88678 0 0 85473 PROGRAM-RELATED SERVICE FEES 450000 0 0 450000 EXCISE TAXES 65000 0 0 65000 FOREIGN TAXES 0 1883 0 0 STATE TAXES 200 0 0 200 DEFERRED EXCISE TAXES 116135 0 0 0